Why Is Crypto Down Today? - January 19, 2026

The cryptocurrency market experienced a 3% decline in market capitalisation, dropping to $3.21 trillion. Most leading cryptocurrencies, including Bitcoin and Ethereum, saw notable price decreases. This article explores the recent downturn, key players in the market, and upcoming events that may influence future price movements.

Key Takeaways

The cryptocurrency market capitalisation has decreased by 3% to $3.21 trillion.
Major cryptocurrencies like Bitcoin and Ethereum have recorded significant price falls.
95 out of the top 100 coins are down, with some experiencing double-digit drops.
Analysts suggest that further declines may be on the horizon, with critical levels to watch.

Why Is Crypto Down Today

Current Market Overview

The cryptocurrency market is experiencing a downturn today, with a 3% reduction in total market cap, now at $3.21 trillion. As of this morning (UTC), 95 of the top 100 cryptocurrencies have seen price drops, with total trading volume at approximately $117 billion.

Crypto Winners & Losers

In examining the leading cryptocurrencies by market capitalisation, all top 10 coins have reported price reductions within the last 24 hours.

Bitcoin (BTC) fell 2.7% and is currently priced at $92,532.
Ethereum (ETH) saw a decline of 3.6%, now trading at $3,192.
The most significant loser during this period was Dogecoin (DOGE), which dropped 7.7% to $0.1267.
Solana (SOL) experienced a 6.7% decrease, now priced at $133.
The smallest decline among the top 10 coins was Tron (TRX), down 0.5% to $0.3176.

Among the top 100 coins, 95 are currently down, with 10 suffering double-digit losses. The largest drop was recorded by Aster (ASTER), down 12.7% to $0.6265, followed closely by Sui (SUI), which fell 12.5% and is now trading at $1.56. The only notable winner was Dash (DASH), which rose 9.3% to $83.24.

Notably, mortgage lender Newrez plans to integrate certain cryptocurrencies, including Bitcoin and Ether, into its mortgage underwriting process starting in February. This development allows borrowers to qualify without needing to sell their crypto assets.

Potential for Further Decrease

In a recent report, John Glover, Chief Investment Officer of Ledn, indicated that we might be in Wave IV of the current bull run, with potential targets between $71,000 and $84,000. He noted the critical question of whether the current pattern is the final leg of Wave IV or if we could see further decline.

According to Glover:

Confirming a movement upwards would require Bitcoin to break above $104,000.
Conversely, a fall below $80,000 might indicate a drop to the low $70,000 range before recovery.

Nic Puckrin, a digital asset analyst and co-founder of Coin Bureau, mentioned the risks of a sell-off in digital assets, attributed to tariff implications and geopolitical tensions. Bitcoin has breached a significant support level of $94,000, a point that has been vital for its January price trend.

The market is likely to experience volatility today, mostly because the US market is closed for Martin Luther King Day. Several factors could trigger further declines, mostly hinging on whether Bitcoin closes below $90,000.

Monitoring Key Levels & Events

As of Monday morning, Bitcoin is trading at $92,532 and has moved within the $90,321-$97,538 range over the past week. It's important to note that it has declined 26.6% from its all-time high of $126,080 recorded in October 2025.

The next focal points for Bitcoin lie around the $92,000 mark. A fall to $91,000 could prompt further decreases below $90,000, while a rebound could see it reclaim the $95,000 level.

Bitcoin Trading Data

Ethereum is currently priced at $3,192. Throughout the day, it reached a peak of $3,364 but dropped to a low of $3,190. It remains down 35.3% from its all-time high of $4,946, hit in August 2025.

The overall market sentiment is steady, with the fear and greed index remaining at 49, indicating a neutral stance among traders, suggesting continued uncertainty as they await market signals.

Market Sentiment

The US Bitcoin spot exchange-traded funds (ETFs) recently experienced a negative flow of $394.68 million, pulling the total net inflow below $58 billion. Of the twelve ETFs, only one showed a positive flow, while the others recorded outflows.

Conversely, Ethereum ETFs saw minor inflows of $4.64 million, marking their fifth day of positive changes, keeping their total at $12.91 billion.

Ethereum ETF Flows

In notable business news, Steak ’n Shake recently made a $10 million purchase of Bitcoin for its treasury, reflecting its initiative as a "Strategic Bitcoin Reserve." This aligns with its policy of retaining all BTC received from customers rather than converting it into cash.

Moreover, Anchorage Digital is reportedly planning to raise a significant amount of capital as it prepares for a potential public listing next year, seeking between $200 million to $400 million in new funding.

Quick FAQ

The cryptocurrency market saw another decline recently. During the previous week, the US stock market also closed lower, with indices like the S&P 500, Nasdaq-100, and Dow Jones Industrial Average seeing slight drops amid rising treasury yields. Analysts suggest the current downturn may continue in the short term, awaiting further indications from the market. Despite this, they remain optimistic about the potential for future increases.